Israel Establishes Better Exchange Rates for Tourists

April 6, 1953

TEL AVIV (Apr. 5)

Tourists who bring foreign currency into Israel this year will receive an 80 percent bonus, the Israel Government announced this week-end.

Up to now, the government exchanged dollars for tourists at the rate of one dollar to a pound. Now, tourists purchasing a letter of credit will receive credit for their currency at the old rate, plus a cash bonus amounting to 80 percent of the total. However, certain reductions in the price of tourist accommodations will be abolished.